Indian pharmaceutical company Cipla has agreed to acquire a 32.49-percent stake in AMP Energy Green Eleven via a share subscription and shareholder’s agreement, along with a power-purchase agreement.
Under the agreement, AMP will set up a 16-megawatt solar project to supply power to Cipla under a 25-year long-term PPA, according to Mercom.
AMP Energy Green Eleven was incorporated on Nov. 21, 2020, to generate and supply electrical power through solar energy.
